HDFC Home Loan rates: Since it is the festive season now, many banks and non-banking financial institutions are announcing their festival offers in like lower interest rates on home loans and waiver of processing fees.
India’s premier housing finance company Housing Development Finance Corporation (HDFC), today unveiled its special limited period offer for the upcoming festival season.
Under this special offer, customers can avail of HDFC Home Loan starting at 6.7 percent per annum effective 20th September 2021. This offer is valid for only those credit scores above 800.
The offer will be applicable to all new loan applications irrespective of the amount of a person’s employment status.
This is a close-ended scheme and will be valid till 31st October 2021.
Last week, SBI as part of the festival bonanza offered a concessional home loan rate of 6.70 percent under its festive offer. This was followed by other lenders like Punjab National Bank and Bank of Baroda.
Earlier PNB slashed the interest rate on home loans above ₹50 lakh by 0.50 percent to 6.60 percent. PNB has announced that now home loans are offered at 6.60 percent irrespective of any upper ceiling limit
Bank of Baroda too announced a waiver of 0.25 percent in the existing applicable rates for Baroda Home Loans and Baroda Car Loans.
HDFC Home Loan Director Words:
Renu Sud Karnad, Managing Director, HDFC Ltd. said that “We are pleased to announce the special HDFC home loan rates for the upcoming festive season.
I am sure that this offer will help prospective House buyers to realize their house buying a dream and bring festive cheer.”
He also added that “Housing is much more affordable today than it ever was. In the last couple of years, property prices have more or less remained the same in major pockets across the country while income levels have gone up.
Record low-interest rates, subsidies under PMAY, and the tax benefits have also helped.”
Before this special offer, the rate for salaried customers for loans above ₹75 lakh and credit score of 800 and above was 7.15 percent and for self-employed was 7.30 percent.
Several real estate developers and consultants said these concessional interest rates on home loans will lead to strong consumer demand in India’s residential property market.